Semiconductors▼
Magnachip reports Q2 revenue of $44.7 million, down 6.1% year-over-year, and guides Q3 revenue midpoint down 2.7% sequentially
Magnachip Semiconductor reported second-quarter 2026 total consolidated revenue of $44.7 million, a 6.1% year-over-year decrease and a 3.3% sequential decline, while announcing a strategic partnership with Navitas Semiconductor to license GeneSiC technology for high-voltage silicon carbide applications. Gross profit margin was 19.3%, exceeding the guidance range of 17% to 19%, but adjusted operating loss widened to $7 million from $4.8 million a year earlier, and non-GAAP diluted loss per share was $0.13 compared with a loss of $0.05 in the prior-year period. The company guided third-quarter revenue to a range of $41.5 million to $45.5 million, representing a midpoint sequential decline of 2.7%, and gross margin to 17% to 19%, citing packaging constraints, lower customer volumes in certain custom applications, and continued pricing pressure on legacy products. CEO Chae Lee stated the goal is to transition from a follower to a leader by focusing on differentiated application-specific solutions, and management expects new-generation products to contribute at least 10% of revenue in the fourth quarter of 2026, up from 2% for full-year 2025. The company also established a $50 million at-the-market offering program and ended the quarter with cash of $87.9 million and total borrowings of $41.5 million.